They don't realize that their plumber and their house cleaner and their kid's teachers can't afford to live nearby anymore, which means they will either have to pay a fortune for those services, or deal with crappy service. They refuse to see the big picture and realize that sky high housing prices aren't what should be optimized for.
And now, because of their stubbornness, SB827 is going to come in and take away any control they had. Now local residents will have zero say in what happens, because the state is going to set the rules. So now we won't get a say in what's actually important because a bunch of stubborn people wouldn't allow anyone to do anything.
The second reason for skyrocketing housing prices is the rise in wages. If people didn't get paid so much in the city, rent prices could not possibly be as high as it currently is. So while we do pay a crap ton in rent, most of us who can afford that rent probably are still WAAAAY better off than the average american.
I am a Bay Area homeowner, and no, I do not want that. I'm able to see the long term effects of that, and realize that in the end it will bad for me, bad for everyone around me, and bad for my community, when all the people that provide services in our community get priced out.
And the wages are only going up because of the housing costs. If the costs weren't so high, companies would not have to pay so much to get people to move here, which is the main driver in determining wages.
You hit the nail on the head though with "most of us who can afford that rent probably are still WAAAAY better off than the average american". Not everyone can afford the high rents. And eventually there won't be anyone left to provide any services, or the cost of those services will have to go up, and people will move away even faster as companies decide it just isn't worth paying that much anymore and start locating elsewhere.
It's weird that it's come to self-described "socialist" groups like DSA and Gay Shame chastising people like me, a homeowner, for advocating against my financial interests in favor of members of my generation who are less well off. Bay Area housing politics are wild.
Me as the techie and SF native do feel like they are using their oligopoly for selfish personal gain and would love to see more people go out and actually vote on these zoning laws to allow more complexes to be built